South African family restaurant chain Mike’s Kitchen has been acquired by Atlanta-based investment company NRD Capital.
Founder and managing partner of NRD Aziz Hashim said, “Our focus at NRD Capital is to invest in quality brands and provide strategic and operational expertise to create sustainable value. With well-established brands that can be differentiated from their competitors, we are able to identify significant growth opportunities, while taking a long-term view of investing in people, product, and the customer experience.”
Mike’s Kitchen’s interim CEO Salim Shermohammed said, “Mike’s Kitchen is a superb company, which turned 45 years-old recently and this iconic brand embodies everything that NRD seeks when it invests in companies. According to the McKinsey Global Institute, consumer spending in Africa is projected to reach $2.1trn by 2025 and NRD is in Africa for the long haul – to invest and re-invest in solid franchise businesses”.